Cloud and cybersecurity startup vArmour have raised USD 44 million in their series E round of funding. This investment into the cloud startup will be channelised towards enhancing their secure data migration prowess to help enterprises manage workloads across the hybrid cloud.
According to vArmour, the hybrid cloud security market is valued somewhere between USD 6 billion and USD 8 billion. They say that the major challenge for enterprises in this market is to store information and applications across many data centers.
By raising USD 44 million in their Series E round, vArmour
The AlegisCyber and NightDragon backed startup says that till now they have raised USD 127 million in funding from various investors. They revealed that they have been growing at an astounding rate year-on-year and are looking forward to adding more customers with the cash infusion.
Market experts believe that the funding will catapult vArmour’s position as a provider of hybrid cloud security and spur the race for the cloud. It will be interesting to see how vArmour make the most of this investment, following Rubrik’s USD 261 million Series E funding.